Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lessened its stake in Ingersoll Rand Inc. (NYSE:IR) by 10.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 489,387 shares of the industrial products company’s stock after selling 57,329 shares during the quarter. Bank of Montreal Can owned about 0.12% of Ingersoll Rand worth $47,999,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. SVB Wealth LLC purchased a new position in shares of Ingersoll Rand in the 1st quarter valued at $314,000. B. Riley Wealth Advisors Inc. increased its position in shares of Ingersoll Rand by 14.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,112 shares of the industrial products company’s stock worth $295,000 after purchasing an additional 399 shares during the last quarter. Tidal Investments LLC increased its position in shares of Ingersoll Rand by 65.2% in the 1st quarter. Tidal Investments LLC now owns 25,784 shares of the industrial products company’s stock worth $2,448,000 after purchasing an additional 10,178 shares during the last quarter. iA Global Asset Management Inc. acquired a new position in shares of Ingersoll Rand in the 1st quarter valued at about $1,076,000. Finally, Plato Investment Management Ltd boosted its holdings in shares of Ingersoll Rand by 2,384.1% in the 1st quarter. Plato Investment Management Ltd now owns 4,521 shares of the industrial products company’s stock valued at $429,000 after buying an additional 4,339 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insiders Place Their Bets

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the sale, the chief accounting officer now directly owns 11,910 shares in the company, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Cfra lifted their price target on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, October 4th. Wells Fargo & Company lifted their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Morgan Stanley assumed coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target for the company. Finally, Barclays lifted their price target on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and an average price target of $103.83.

Ingersoll Rand Trading Down 0.7 %

Ingersoll Rand stock opened at $104.05 on Thursday. Ingersoll Rand Inc. has a 52-week low of $69.46 and a 52-week high of $106.03. The firm has a market capitalization of $41.93 billion, a price-to-earnings ratio of 50.76, a PEG ratio of 4.00 and a beta of 1.42. The firm has a 50-day moving average price of $99.91 and a two-hundred day moving average price of $94.97. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is 3.90%.

About Ingersoll Rand

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.